Looking for innovative ways to attract and retain top talent for your business? In the wake of the pandemic, Group Critical Illness is increasingly valued by employees, with some seeing it as even more important than their salary. So if you're looking to retain your best staff for longer, lower the costs of recruitment, and steal a march on your competitors, it's an easy and affordable win.Group Critical Illness was originally invented in South Africa back in 1983, launching under the name 'dread disease insurance'. The brainchild of Dr Marius Barnard – a heart surgeon who performed the world's first human heart transplant alongside his brother Christiaan – originally covered four conditions: cancer, stroke, heart attack and coronary bypass surgery. Today, Group Critical Illness with YuLife covers up to 30 common conditions, and provides the financial security and assurance employees need, reducing mental stress and engendering loyalty to their employer. These policies pay out if an employee suffers an illness or injury defined in the policy. That's money that can be spent where it’s needed most, helping employees to pay for living costs, medical treatment, and necessary changes to their home.In this article, we'll outline six key statistics that highlight just how powerful Group Critical Illness can be in helping companies get the best out of their staff, reducing absenteeism and developing a healthy, happy and financially secure workforce.1. R12-16 billion: annual cost of absenteeism to SAAbsenteeism can be a significant drain on an economy, and South Africa is no exception. This report from the University of Johannesburg estimates the economy loses R12-R16 billion a year as a result of employee absenteeism. One reason this figure is so large is the financial bar to healthcare, in a nation where a national insurance scheme still seems a far-off aspiration. According to the Kaiser Family Foundation, one in five uninsured adults in 2021 went without medical care due to cost. And as the financial crisis continues to bite, that figure is only likely to increase further.All this isn't just a national tragedy, but it can have a major impact on a company's bottom line. Quite simply, if your employees can't afford the healthcare they need, minor problems will grow into major ones, more and more sick days will be needed, and the resulting cost to business will typically exceed the cost of providing cover in the first place.2. One in four: number of South Africans affected by cancerWe all know cancer is a big issue. But it's hard to overstate the scale of the problem in South Africa, nor the degree to which it is a growing one. According to Asco Post, there were more than 56,000 cancer-related deaths in the country in 2020, and this is expected to rise to 138,000 in 2030 and 175,000 in 2040. More broadly, according to CANSA, cancer affects one in four South Africans, through diagnosis of family, friends, colleagues or self.In this light, it's crucial that employers provide a safety net that aids employees in managing the financial burdens associated with treatment and recovery; both for ethical reasons and reasons of pure self-interest. Group Critical Illness insurance from YuLife includes cancer cover as standard, ensuring that employees can focus on their health without worrying about the financial implications of their medical journey.3. 225: daily deaths from heart disease or strokeIn 2023, heart disease and stroke continue to be leading causes of death worldwide. According to Heart and Stroke Foundation SA, 10 South Africans suffer from a stroke every hour and 225 die from either heart disease or a stroke every day. Overall, strokes and heart disease are responsible for one in six total deaths in the country.That's why the comprehensive range of conditions covered by YuLife's Group Critical Illness includes heart-related illnesses, offering employees peace of mind and financial stability as they navigate the challenges posed by these life-altering issues. That said, heart disease and stroke are also conditions where lifestyle factors play a key part. For example, as the Foundation points out, one in three South African adults suffers from hypertension (high blood pressure), which heightens the risk of strokes, heart attacks, heart failure and kidney disease. Similarly, 60% of women and 31% of men in South Africa are overweight or obese.For this reason, YuLife's offering isn't just based on payouts when problems occur, but also puts a big focus on prevention too. For example, all employees covered by YuLife get access to the YuLife app, which offers financial rewards for daily exercise and meditation tasks.4. One in three: South Africans who have experienced a common mental disorderWhen you think about group critical illness, physical health conditions that often spring to mind. But mental health is an integral component of overall well-being, and equally vital if your workforce is going to be happy, motivated and productive. According to the National Library of Medicine, South Africa has a 12-month prevalence estimate of 16.5% for common mental disorders, including anxiety and mood disorders, and one in three people have experienced a common mental disorder overall. So the importance of inclusive employee benefits that encompass mental health support cannot be overstated. That's why YuLife's coverage not only addresses physical health concerns but also extends its support to mental health. This approach applies both to the specific conditions covered and the holistic approach to employee well-being offered by the YuLife app, EAP and other services and resources.5. 80%: portion of highly engaged YuLife app usersTo put it bluntly, there's no point in providing best-in-class insurance benefits to your employees if they don't know about or engage with them. But with traditional insurance products, that's all too often the case. That's why YuLife's user-friendly app is such a game-changer. By incentivising healthy habits, it not only puts prevention before cure, but also means that employees typically open the app on a regular basis. That's led to an industry-leading engagement rate of 80%. This means employees don't just get group critical illness cover, but crucially that they're aware of it, can easily access benefits and value them highly. And from the employer's point of view, that makes all the difference when it comes to attracting and retaining the best talent.6. 181%: return on investment with YuLifeIt should be becoming clear that providing group critical illness cover to your employees through YuLife isn't a drain or unnecessary cost on business: instead, it's more likely to boost your bottom line. But if you need further proof, just check out this study by Forrester Consulting. It found that insuring with YuLife leads to an 11.5% reduction in absence, a 2.75% reduction in employee turnover, and a 2.5% increase in productivity. Based on these figures, the study concludes that the return on investment (ROI) of switching to YuLife from traditional insurance providers is an impressive 181%.All in all, the statistics we've presented here make a compelling case for offering group critical illness insurance through YuLife as a prominent employee benefit. In a world where health uncertainties abound, employers who prioritise the physical and mental well-being of their workforce are certain to foster a more resilient, engaged and productive team. In short, by partnering with YuLife to provide group critical illness cover, companies can take proactive steps toward creating a more productive and profitable future, both for their employees and the company as a whole.